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8I- t`t~43~8 MEMORANDUM OF LAND SALE CONTRACT TxZS MEMORP.NDU OP LAND SALE CONTRACT made and entered into this ~~ day of ~ 1981, by and between RZCxARD S. CAVENEE and COLLE M . CA •' • E , Sellers , and ,TAD+~ D. BF~S ffi~d SHARGCtT g, 10!(5, Buyers . wxTNESSETx: WHEREAS, Sellers are the owners of: Lot Seven {7) in Block Four (4} in Claussen Country View Addition to the City of Grand Island, Ba11 County, Nebraska, which property and its appurtenances Sellers are willing to sell under certain installment sales contracts; and WHEREAS, Buyers have agreed to purchase the property, both real a d personal, under a Land Sale Contract made and entered into on ,c ,? 1981, and WHEREAS, the Land Sale Contract made and entered into of even date herewith, provided that the parties hereto would execute a Memorandum of Land Sale Contract contemporaneously with the exe- cation of the Land Sale Contract for the purposes of recording. NOW, THEREFORE, in consideration of the mutual promises of each of the parties hereto, the following are summarized provisions of the Land Sale Contract of even date herewith included for re- cording purposes: 1. Sellers agree to sell and convey unto Buyers and Buyers agree to purchase from Sellers the fallowing described real estate and its appurtenances thereto: Lot Seven (7) in Block Four (4) in Claussen County View Addition to the City of Grand Island, Hall County, Nebraska, 2. Buyers agree to pay to Sellers far the above described pro- - - petty the sum of l=orry-six Thousand Five Hundred iJailars (546,5f10.00) as provided in the Land Sale Contract, by assigning title to a 237 f'lango ?~shile €~ w =={.h title shall- include an encutnt~rance - tp Avco .Finance Cody in an aunt less-than t 'T'housand-amine Hundred Dollars (51,900.00); Buyers being given credit of Twelve Thousand Dollars (512,000.00) of value off of the purchase price. The balance of Thirty-four Thousand Five Hundred ISOllars (534,500.00} will be paid in graduated payments over four hundred eighty (480) tmapths begining r~~r~~ 1981, and each and every month thereafter ant the t re principal amount and interest therein are fully paid. 3. Buyers are to pay the real estate taxes and the insurance premiums an the property. 4. Time is of the essence of this Contract. Buyers fufther agree that if they shall fail to pay spy taxes or assessments lsvidd or assessed against the sale property or fail to pay the premi.u~ t~€ insurance, Sellers may pay the taxes, assessx~nts ar pze~ai.u and the amount so paid shall became due and payable Earth- with by Buyers to Sellers without notice or demand and shall be- ctoi~ a ps.rt of the principal balance due under this Contract. ,. Zf &~zyers fail to pay any aunt due under the terms cif. Lhe Contract, ar if Buyers fail to perform any of the other terms, ce>venants ar agreements of this. Contract, ar if•Buyers shall abandon the sal€ property, the whole of the indebtedness du,s under this Contract,-together with any advances made by Sellers